Business
Business, 30.07.2020 01:01, marisolrojo2002

A $10,000 loan is being paid off by annual payments of $2,000 plus a smaller final payment. If the effective annual rate of interest is 15%, and the first payment is made one year after the time of the loan, find the amount of interest, $X, contained in the fifth payment.

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A $10,000 loan is being paid off by annual payments of $2,000 plus a smaller final payment. If the e...

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